florida. this conference unlike any other brings together some of the biggest and most important names in business leadership. talking about topics that matter to you and your money and we are bringing them to you live right here exclusively. in this hour, we have terry duffy, he's the host and he's the chairman of the cme group. it's a fox business exclusive. we're going to ask him about his recent attacks on washington, d.c. he is blaming the people inside the beltway, partially for a rough quarter but partially for a very opaque atmosphere for which he is finding it difficult to run businesses and he's hearing from his customers. what does he say about the atmosphere right now? but first in a few minutes, i speak with the businessman of all businessman, sir richard branson the founder and chairman of the virgin group about what it is like to run and grow multiple billion dollars businesses in this environment. he is the fourth richest man in the u.k., but who cares about that, he is one of the gutsiest businessman ever to have lived.

he started one tiny business in a basement when he was 16 years old. look at him now, cheryl. an amazing story. cheryl casone is in new york. she will be guiding you through the last hour of trading. how are things looking? cheryl: things a r looking a bit better -- things are looking a bit better. we have a very mixed picture for markets at this hour as we move into the close. the dow and s&p are actually both higher. the dow up about 17 points, up more than 80 points though at session highs today. it's been a volatile day for traders. the dow falling more than 66 points at its session lows. the dow is up by 17 points. very volatile, very rocky day for stocks. one of the things that helped the dow out earlier on to hit the session highs, shares of home depot, by far the biggest winner on the dow today. the company hitting a new high after a strong earnings report and positive outlook for the next quarter. little pullback on home depot right now. but again home depot really the

true winner to have day and taking the dow higher. let's get to the floor show. we have traders standing by at the new york stock exchange, the cme group and the nymex. at the new york stock exchange, you know, i guess this is kind of schizophrenia, if you will, is it fiscal cliff, earnings, what is it out there for you today? >> get used to the schizophrenia and volatility. i talked about this last week with liz in fact on the show. this kind of volatility is going to be with us probably throughout the end of the year. you still have too many global macro as well as fiscal -- global macro overhangings as well as fiscal challenges here in the u.s. this will be punctuated supremely by the noises in the narrative coming out of washington. the president is meeting with business leaders or he's meeting with labor unions and nonprofits today. business leaders tomorrow. and then legislators on the third day. an interestingly enough there's no wall street or banking business leaders outside of american express and that group.

i suppose elections have challenges when they happen, they have consequences when they happen. that's what we will see with these discussions. cheryl: you still stay market is oversold. if that were truly the case, why even on a day like today, when we were up almost 100 points and then boom a pullback, it seems like if we're that oversold, there's buying opportunities on a day like today. >> we've had the market oversold with some of our quantitative work since middle of september. because of overhang of all the issues we're dealing with. europe came back into the fore right up to the election. the market can't get back on its feet. in our work we would go s&p 500 -- we would go neutral on the s&p 500 around -- [inaudible]. i think a deal will get done but i don't think we will get the grand deal we're all hoping for before the end of the year.

short of them giving any clues going forward, we will hang around this level. we will move up and down, it will be a schizophrenic market for some time. cheryl: still below the key 13,000 mark. i want to go to the cme. i'm looking at some commodities markets. kind of a mixed bag there. what are you looking at? >> you know, the problem is exactly what we were just speaking about, everybody is waiting and that's why you saw your home depot pop and then the market gave it back because that's not what's going to move the market right now. it is congress. it's either lack of action or some action. there's going to be probably a compromise. it will be some taxes. it will be some budget cuts. i doubt that you are looking at a big increase in dividends, and that's scared a lot of investors as well. as i'm looking at the market, you already see the gold market is responding to the european situation and has built in a risk premium that the u.s. gets nothing done. but again, it's a schizophrenic market. it's up one day, down the next. what holds in five minutes gives

it back in another three. cheryl: a friend of mine was looking over at europe, he says there's a lot of problems in europe and we don't have as many problems they do, so hence kind of that euro dollar mix we have seen today. which i thought was interesting, they are bad but we're not as bad. over at the nymex, we have elliot warren standing by. obviously oil again, not just the brent but the wti contracts as well. what are you seeing? >> i was on with liz last week and i was right for once because i told her we were going down and it tanked 5 bucks. natural gas had a 5% rally, a big technical move there. it is an interesting market. these other guys are surprised by what they are calling a schizophrenic market. i have been trading a long time and i don't remember seeing a market that wasn't really schizophrenic. but, you know, natural gas is rallying. there's tons of gas. we have had some cold weather and the stuff is rallying

anyway. i think natural gas is the thing to watch. there's got to be a day of reckoning coming at some point. i don't understand the rally, but the market tells the truth. cheryl: i hear you. we have the cliff coming and also again the commodity markets as well which are still very interesting at this point. gentlemen, thanks to all of you. appreciate you being on the floor show today. that is it for us in new york. let's head back to liz claman in florida at the cme global financial leadership conference. liz? liz: the cliff, we're going to talk about that right now. you know, at a time when you hear so many complaints that now is just a horrible time to start a business, what would you think if i told you there was a guy who started his first business at age 15 and since then has started more multi-billion dollars businesses than any one else in the world, never once letting uncertainty stop him. he is with me here at the cme global financial leadership conference and we welcome sir richard branson founder and chairman of virgin group in a fox business exclusive. how are you? good to see you >> always good to see you.

liz: you know, you gather a crowd because people feel that you have a very unique outlook on the world. that's why i want to begin with the fact, that the world is uncertain place. how often do we hear that lately? europe is floundering. the united states is very close to that sort of falling off the so called fiscal cliff. there are weaknesses all around the planet. for you, somebody who is running some 400 companies all around the world, let me begin by asking you, how is business? >> generally it's pretty good. we're diversified on a global basis. you know, we have got companies in south america, india, china and australia and even africa. we're lucky. we are well diversified. i think america, the businesses we have got here seem to be beginning to do well again, so i'm an optimist, i think we're over the worst, and i think, you know, we're beginning to pull out, and i'm sure this fiscal

cliff will be sorted out and then i think it's nice to see republicans and democrats actually having sensible discussions for once, and i think they will get that sorted. liz: do you believe there are sensible discussions going on? >> yeah, i think -- i mean, i really think that they have had to grow up and i think finally they seem to be growing up, expecting a new reality. i think it's in their interest and america's interest and the world's interest for them to compromise, get a deal done and move on. and i think we'll see -- i think we will see that happening, and i think we'll -- you know, i think america can become strong again, and, you know, hopefully this will be the start of it. liz: can they learn anything from the british way of government and parliament? >> well, you know, what is happening in britain is that they tightened the belt about three years ago, and, you know, they took a gamble, and i think it seems to be pulling off.

i mean, it was a lot of criticism about them tightening so soon, and indications are they seem to be pulling it off. liz: you are in airlines. you are in media. you are in space travel. let me get to the airline business first. when you look at the united states airline business, it is -- it's in trouble. everyone's either going bankrupt or they're hoping to merge -- not everybody, but many of these carriers are trying to merge just to survive and to save themselves. all kinds of worries about pilot shortages and then there's virgin america, which you launched, always sticks in my head, because you launched when fox business launched, in late 2007. and we were kind of cheering you on because it was a start-up and trying to get into the l.a. terminals and trying to start an airline at a time which was facing a real problem with the markets. shiny sparkly, i mean we don't have the pink lights on fox business, i'm working on it, but

what is wrong with the way american carriers are running their business? >> well, i would hate to make suggestions for them. liz: because you need the business; right? >> the one thing that virgin america is people love flying it and people will go out of their way to fly it. but we're not as big as the uniteds and the others. so, you know, so long as the airlines run differently. you know, virgin america is a great airline. it's got great staff. it's done it right. if you want to succeed, you have to make sure you are the best in the business. and i think one of the problems in america is your chapter 11, is the fact that instead of people when they mess up going bankrupt and making room for other airlines, they go into chapter 11 and they come back

out again. and they struggle on. and some of these airlines have gone into chapter 11, you know, five, six times, and it doesn't seem to improve the service. it just seems to hurt their credit. liz: sir richard, did it ever enter your mind to buy american airlines, which right now is floundering? >> we're not the company that buys companies. i think if you buy companies, you buy all that goes with it. we'd much rather build a company from scratch and make sure that we get every little detail right. and i think, you know, i think buying one of the big american carriers would have been a painful pill to swallow, i think. liz: you are first and foremost an entrepreneur, and one of your favorite words was the word

screw. it kind of harkens back to when you started virgin, your first airline with one boeing jet and you took on british airways which was of course the goliath. what do you say to people who are hear in america thinking of starting businesses at a time when they are so worried about all the uncertainty out there, about taking on goliaths? where do you get that courage to do that? >> the future of jobs in america is going to be, you know, the new virgins that start with one plane or start with, you know, one restaurant, start with one of anything, and that's where all the jobs are going to come from. they are not going to come from the big companies. and i spend a lot of time talking and trying to encourage people to, you know, give it a go. the best way of learning to run a business is not necessarily a business school. it's just getting out into the jungle and trying it. and, you know, if it works, you

can keep on carrying on building it. if it doesn't work, you have learned a lot, and you can try something else. liz: now you are trying virgin galactic, which is private space travel. now you have always been unafraid of risk, but with risk in space, you lose people. what are you going to do -- how do you sort of wrap your arms around a space travel business? and understand the ramifications of what could happen as we know from nasa's problems in the past? >> well, i just come from -- yesterday from meeting all the team at virgin galactic, 300 of the best engineers, the best technicians in the world, so excited, so proud of what they are creating, and, you know, i think everybody realizes there are risks. you know, there are risks driving down the road. there's risks walking down the street. you know, lots of risk in life. but unless you actually, you know, push the barriers forward,

you achieve nothing. and i think virgin galactic is going to achieve astonishing things. i spent two hours, you know, over plans for, you know, point to point travel seeing, you know, how soon could we deliver, you know, trips from new york to australia in less than two hours. you know, it's going to take us a while, but we will get there, and in the process, you know, we can't 100% guarantee that every flight is going to be successful, but, you know, we'll do everything we can to make sure they are as safe as possible. liz: well no one has taken more risk than you have on every level even in your personal world from hot air ballooning to high speedboating. you have crashed. you haven't burned thankfully. but do you ever wonder if your appetite for risk will eventually do you in, because we

need you, sir richard, as an inspiration? >> well, we never live forever. i'm certainly going to make sure that i live life to its full. and hopefully share it with lots of other people in the process. liz: sir richard branson, chairman and founder of virgin group, thank you very much. >> thank you. liz: this is the kind of sort of insight that we love to give our viewers here on fox business. by the way, this place is crawling with traders and capitalists and one man who is the host of the cme conference, terry duffy, recently filed a lawsuit against the cftc saying that organization is hurting his ability to run a competitive business. he is live and exclusive with us in just a few minutes. you don't want to miss it. and did you know that way back in 1977 sir richard branson signed a rock band? he wanted them and they helped

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liz: so we just heard from sir

richard branson about how he has started 400 businesses all over the world in good times, bad. i'm joined now by terry duffy the cme group executive chairman who is the host of this event but is also an outspoken aavocate for the power of business. i'm thrilled to have you here. thank you. >> let me first say thank you very much for you being here. i know it's been a tough couple weeks up north and the east coast obviously with everybody in new york, so we're very thankful you are here and our thoughts and prayers are with everybody that's been affected by the hurricane. thank you very much for being here. liz: new york appreciates that and so does new jersey. >> it is really difficult following up sir richard branson. you know, i mean, this guy is way up there. and he is an amazing individual. and you did a great job interviewing him. and i need to say something to your mom back home in california. june, be nice to your daughter. she does a great job. liz: mom always wants perfectionism.

so you do in -- so do you in your business world. as a businessman, what is the number one thing on your mind? >> the number one thing on my mind as a businessman is let's get back to fundamentals of markets. let's stop talking about fiscal cliffs. let's fix those problems so businesses can go about doing what business needs to do and that's dealing with the macro events of the economies, not the macro events of the governments. liz: don't you feel if you put ten business people in a room, lock the door, you guys could hammer out a solution to the fiscal cliff, but does that mean, terry, that you would accept, and i don't know nor do i really think it's relevant where you stand as far as right or left is concerned, but some tax hikes and some spending cuts, does it have to be a combination? >> well, i think speaker boehner has it right where he said we need to look at the whole tax code before we start increasing taxes. so i actually think that needs to be evaluated. so i'm not quite sure where the fiscal cliff is going to go. i'm assuming they are going to as they say kick the can down the road for another couple of months.

hopefully they take that time period to lay out a foundation over what they are going to do in order for us to put our fiscal house in order. liz: there is citizen duffy and there is businessman ceo duffy. let's talk about the ceo duffy and how your customers and i want to remind our viewers that you have everyone from farmers who trade on the cme to small traders to billion dollars financial institutions. if we fell off a cliff, how would they be affected? >> well, i think they would be affected in my ways. -- in many ways. what i said earlier, for all these people to go about and do their business. farmers should be worried about the weather and the yield they are going to get in their crops not what's going on on the fiscal cliff. unfortunately they are affected just like traders are. we need to get more people back in the markets, make them robust so farmers can hedge their products properly, have deep pools of liquidity and get more participants back in. we all know the volumes across the globe in securities exchanges and derivatives exchanges have been down significantly over the last year. i think that has a lot to do

with uncertainty with the government policies, whether it's in europe or the united states. liz: you have filed a lawsuit against the commodities futures trading commission in essence saying and this was just last week that you believe there are new regulations that they are trying to impose that are costly and redundant and cumbersome. how far are you going to take this? >> first of aushlg you have to -- first of all, you have to finally take a stand. enough is enough. these are duplicating costs. we don't think that's right. we're waiting for our provisional acceptance of it by the cftc, we have not gotten that yet, in return they are saying we have to go -- [inaudible] -- we said nowhere in the law does it say that. finally we said enough is enough. we filed a lawsuit. we feel strongly we will prevail. liz: you beat estimates, that's pretty good news but you talked on your conference call against washington saying you have never

seen such disarray in 20 years. sir richard branson was just sitting in that chair saying i will start a business no matter what regulations i face, no matter what economic conditions i face, let me just ask you, are you blaming somebody for tough business conditions that you can't overcome? >> no, i'm not blaming anyone. i agree with sir richard branson. that's how the cme is too, we're very entrepreneurial, we bring new products out. when you're uncertain about what the laws are going toobe, it is very difficult to be innovative. if you can't invest in innovation because you aren't quite sure what the rules of the game are. how do you expand and hire and go forward? those are the problems we are seeing. liz: i think people would say that is reasonable. terry duffy, the host and the executive chairman of the cme group. thank you very much. >> thank you very much. i want to say hi to my wife jennifer and my sons. a couple dear friends of ours have been taking care of our kids. and their two beautiful children.

i want to thank all you folks. >> thank you very much. >> appreciate it. liz: cheryl? cheryl: closing bell will be ringing in 36 minutes from now. what does goldman sachs think about the fiscal cliff? charlie gasparino is next.

>> some concerns about greece and europe, markets opened lower. then we shot higher. home depot a nice leader of the dow. now we're back in the negative again. this has been happening the last ten minutes. right now the dow down 23. nasdaq, s&p, russell 2000 all going into the red. still a lot of concerns about the fiscal cliff. now, charlie gasparino has been listening into one of the most important events today, the goldman sachs call on the fiscal cliff. former senators briefed goldman. >> the call itself was pretty positive, i should say.

they were pretty positive on at least avoiding the fiscal cliff and possibly getting a tax deal in the future. i will give you some of the highlights. you know, i'm going to probably have more on foxbusiness.com. n a little bit. -- in a little bit. what they say they are going to come to some short-term deal. whatever that is, both sides know the market reaction to not doing anything is going to be pretty severe. you know, just getting those cuts, given the fact we have 2% gdp growth is probably not good. there will be some, you know, compromise. where is the compromise? it was kind of interesting, they believe that the bush tax rates will probably be extended. the compromise -- cheryl: great. >> you are giving away your income. cheryl: oops. >> the compromise will be in the loopholes and the republicans will deal on that, give a lot on. that they also believe in 2013 there's going to be -- you know, there's going to be a better than even chance that they are

going to reach a long-term solution on tax reform. if it goes beyond that, then you are into election year cycles. in 2013 it is a year where there's no elections. members of congress aren't up. presidential election would be in 2016. but 2014 becomes political season again. they think 2013 is a time when you really have this. i found it fascinating that they both addressed whether erskine bowles would be the treasury secretary and they both basically said no. follows the reporting that we had today that i was reporting that, you know, that john lou is sort of been singled as the guy -- cheryl: jack. >> jack lou, i'm sorry. erskine bowles is not going to get it. and although i think it was lott who said that the president's smart enough, he will appoint erskine bowles because it will be a show of compromise with the

republicans. i think the market would go up. it would be good for the markets. you know, by the way, when we say good for the markets, we are not saying wall street is going to make a lot of money. everybody that's watching this show is in the market. i don't care if you are a construction worker. you have a money in a 401(k). you have money in a pension plan that's in the markets. the markets are the public right now. when we talk about the markets going up, that's a good thing for everybody. cheryl: remember, they are probably in your 401(k). >> right, they are probably in your 401(k) or you have a checking account. just remember, when we talk about markets, not an esoteric thing. probably will have more on this later. those are the highlights, i found it fascinating they think a deal is going to get done. the markets aren't really saying that. if you see a fiscal cliff coming, i just can't imagine that, you know, goldman would be trading just down 12 cents, you know. cheryl: remember, they took a big hit the day after the the election because, you know, okay, dodd frank here to stay, enjoy. >> i thought that was fiscal cliff too.

i mean i think -- cheryl this election was if you believe a fiscal cliff was possible, this election gave you every reason to believe it. why is that? the president wins by a very narrow margin. electorally big, but popular narrow. republicans control the house, but the democrats pick up in the senate. both sides say hey, you are not in charge. i'm in charge. we have reason to believe you don't have mandate. so then that's where they both reach sort of a stalemate. and that's what happened in this election. cheryl: more on the website foxbusiness.com. >> now i have to write it. cheryl: yeah you have to write it. sorry. the closing bell is going to ring. 27 minutes. after the bell today we will get the latest profit report from cisco. we will have a preview coming up countdown to the closing bell.

>> welcome back. i'm robert gray with your fox business earnings preview. cisco systems reporting earnings today after the closing bell. take a look sat the shares. -- take a look at the shares. very little change in today's session, in fact completely flat at the moment. shares of the company down more than 11% over the past year. for the company's fiscal first quarter analysts are expecting earnings of 46 cents per share on revenue of 11.77 billion dollars. investors should be watching for the effects of slowing global economies that has hit cisco's bottom line in past quarters plus revenue growth. watch revenue growth which like margins we have seen it declining over the past few quarters. finally, watch out for a possible dividend increase this quarter. liz claman will be interviewing john chambers, the chairman and

ceo of cisco tomorrow afternoon in the 3:00 p.m. hour. don't miss full coverage of ternings report in -- of the earnings report in less than half hour after the closing bell. right how the we continue with cheryl casone. cheryl: what a day we're having. let's bring in nicole petallides at the new york stock exchange. nicole: we will continue to see volatility. we have had green arrows and now in the red going into the closing bell. i wanted to take a look here at barnes & nobles. books is the ticker symbol; right? looking at it closely because it's been trading higher on some comments by the chief executive officer and issuing a positive outlook for the company. the question is whether or not barnes & noble is undervalued. one of the things he talked

about in addition to giving the positive outlook was he talked about preorder demands that they were seeing for the holiday season for the nook and those are looking pretty good, so with that, we've seen up arrows for barnes & noble. back to you. cheryl: gosh, retail season, it is here. nicole thank you very much. several retail names reporting better than expected earnings today. is this though a good sign for the entire sector before we have it, you know what it is, black friday? sandra smith has retail round up in her trade for today. sandra? sandra: apparently we won't be able to finish our thanksgiving dinner because everybody will be shopping. michael kors a stock that's gone up more than 80% so far in 2012. they topped estimates but there was still some concern from michael kors about the outlook especially as we face the fiscal cliff. also heard a conversation about the fiscal cliff coming from saks. they said their profits were hurt from a modest spike in promotions. they are having to put more

things on sale just to get people to buy them. they specifically mentioned their high end customers and said that they will be more aware of the facing of that fiscal cliff at year's end. they are worried about spending at their stores over the holiday. so a little bit of word of caution keeping saks from really rallying after reporting those earnings. dick's sporting goods is up 5%. again, a major winner as far as retail so far this year, up 40%. profit surged more than 20%. stronger than expected sales growth. and their full year forecast was raised. dick's a big winner today as well. cheryl, i will leave it with the big winners today, microsoft, your biggest loser in the dow right now, and take a look at this on the retail front, home depot, your biggest winner as we head into the final minutes of trading. great earnings, great sales there as the housing market, cheryl, improved, did very very well. cheryl: sandra smith thank you very much. we are getting breaking news. robert gray? we have some news crossing on amd?

robert: advanced micro devices, shares are surging now on a reuters report that amd has hired jpmorgan chase to explore options this includes possibly selling patents or an outright sale of the company. shares are jumping up, up some 12% right now. this is a company that's been announcing layoffs after layoffs and disappointing investors handily for some time. if you look at the stock, you see what it is doing today. but pull up a year to date, it's lost almost two thirds of its value. look at the five year picture here. and not a pretty picture for investors who have been long time holders of amd. so again cheryl reuters reporting now on the wires that amd has hired jpmorgan chase to explore their options. these include selling patents and perhaps an outright sale. and of course this comes in the background we have seen pc sales slowing perhaps for the first time in about a decade for a full year this year. you know, slower revenue than the prior year. so again, continuing to see the shares surging in trading here

as we head into the bell, but down handily over the past several years. cheryl: robert, thank you very much. yeah, absolutely. i'm watching the stock move as we speak. 14%. it continues to tick higher. last trade 2.28, 2.29. robert gray thank you very much. closing bell is going to ring in 18 minutes. coming up, we're going to talk with keith banks, u.s. trust president about how to position your portfolio to prepare for next year. he has 200 billion dollars in assets under management. he says he knows a way that you can get paid to wait. we will hear that strategy next.

cheryl: we want to update you on the breaking news that we just brought you a few minutes ago. a report by reuters has crossed the tape saying that basically amd has hired jpmorgan chase to explore its options. what could options be? that could sell pa ents of the company -- patents of the company, do outright sale, that is not clear. but reuters is reporting that amd is exploring quote unquote options. amd is jumping on the news. intel is the biggest chipmaker in the world. intel stock hitting new 52 week lows today. again all of this kind of crossing side by side. what could traders be thinking? potentially would intel be interested in amd? we can't tell you that but we can tell you how the stocks are

doing. amd has about 2 billion dollars in dealt and obligations on the books right now -- in debt and obligations on the books right now. so obviously we're going to continue to follow both stocks. try and get some confirmation. at this point reuters reporting that there is no comment from jpmorgan chase. no comment from amd. fox business will continue to follow the story for you. president obama is meeting with labor leaders and ceos this week to discuss a solution for the impending fiscal cliff. so if the country avoids that cliff, how do you profit from it? internal optimist keith banks, president at u.s. trust joins me now in a fox business exclusive with several sector ideas that you think are maybe turning around now, going to turn around, you are really watching the sectors overall >> we are. our focus is obviously first of all on the broad based markets. you know, we provide asset allocation strategies for our clients, so we're trying to get the stock bond part of that right. but we're optimistic. i mean it is going to be

volatile. but we don't subscribe to, the you know, the doomsday scenario that's out there by some people. cheryl: you are telling your clients they can get paid to wait. >> right. >> so you're telling them to sit still, maybe not make any moves. a lot of sectors, depending on where they were, moved on the presidential election. >> look, the market is going to be choppy. there's not going to be a clear direction probably between now and end of the year. we think 1350 to 1425 range for the s&p 500. we're seeing if you get kind of that chop, get paid to wait. be in dividend paying companies, especially companies that will increase the dividend, growing dividend as well as fixed income. cheryl: your range is 1350 to 1425 but at the same time going

into dividend paying stocks. last week what we saw market action a lot of those bigger names sold off and shareholders are worried they are going to get the short end of the stick thanks to washington. >> sure, you can't react to very near term movements in the stock price. you just can't call that way. you just can't call it that way. we don't overreact to that. cheryl: i want to hit you on housing because housing has had a blockbuster year. these names 100%, 200% in some cases. don't you think the trade is already over? >> we like housing more from the standpoint that we think it will be a real underpinning for the economy. the auto industry, the housing industry, huge ripple effect if they keep on accelerating to the upside. housing stocks, not necessarily. you know, we like industrials. we like technology. we like global companies that are going to benefit as the global economy improves. we think the u.s. grows 2, 2 1/2% next year. the global economy grows 4% plus. cheryl: you also like the auto

sector, which i think is interesting. i mean, again, those stocks have performed fairly well this year, but still gm under a lot of pressure, not where it needs to be frankly on the government's perspective anyway. >> right. we like the fact they will contribute to growth this year. whether they are the right stock and right way to play it, not so much. we like industrials generally, manufacturing as well and technology we think continues to be a very good play. cheryl: i mentioned some of the sectors that got hit last week, what do you think about defense right now? >> defense, i think, we were not playing defense big anyway. healthcare we're still concerned about for the obvious reasons, right? there's going to be a lot of pressure, a lot of constraints given what's going on in a macro sense. so, you know, we were underweight healthcare. we would still be underweight healthcare. again, look tr stocks that gives -- look for stocks that gives you the ability to get paid while you wait, benefit from global growth. we think that will be the play when you move back into equities. we're still neutral right now.

cheryl: underneath that umbrella of healthcare, if you will, the insurance companies got a big boost thanks to the president's healthcare law, the obama care, if you will but you think that trade is maybe over. >> you have to separate what gets the pop and then stays versus where do you think there's a longer term play. >> people still get sick i guess is what i'm saying? >> people get sick, but i think there will be enough pressure and uncertainty on the healthcare side despite people getting sick, we don't think that's the best place to have your money right now. we'd be underweight. cheryl: dividend paying high yielding equities, am i missing anything here? >> on the fixed income side what we like there is we like credit over treasuries. we would be in corporates, high yield. and some of the munis. revenue bonds, things like that. cheryl: the treasury market overall is the fact you have europe which has a host of problems, those are never ending so you still have kind of a nice interest in u.s. debt. do you think that continues if

europe starts to kind of get their act together, if you will? >> i think if people get more confident that europe will deal with its fiscal issues, then i think there will be greater interest because there's higher yields over there. i think right now people are worried about what will the ultimate outcome will be. if people have some exposure over there, but not what they could. so if people feel it's time to go back, then you will see -- cheryl: i see what you are saying because those that were afraid of buying california's debt are getting their payoff now. good point as far as greece goes as well. thank you very much. good to have you on the show. >> great to be here. cheryl: closing bell ringing in 6 minutes. coming up, we will tell you about one alternative fuel company making a big jump this today's trading after announcing a partnership deal with general electric. i'm going to tell you what it is coming up. having you ship my gifts couldn't be easier.

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cheryl: shares of clean energy are making a jump in today's session. the company announced a collaboration with ge to expand infrastructure in the united states. the partnership will use ge's liquid natural gas technology adds two new plants and expecting to complete all this by the end of 2013. shares of clean energy down more than 5% for the year but as you can see today the stock is up more than 10%. now to david asman. the market opened lower, went higher, now we'r we are down lor again. david: they're settling into the end of the day. we will be following that very closely. what is it they want to do as you can see the market is trading significantly lower than it has been for most of the day

trading down into the close. nicole petallides at the new york stock exchange. little early to talk about amd, but they have contacted jpmorgan chase to check out their options. a lot of people take a look at intel. nicole: the stock was on the move trading as high as 235. down nearly 65% this year, so the fact they are out exploring options gives it an immediate pop and of course we will learn more. david: the head of the whole windows program left early on, that really hurt the stock big time, didn't it? nicole: little crazy to have him step down after being there for 23 years, potentially the next ceo of the company and suddenly he is out and it is mutual, what went wrong? vi